Data

As 2016 lies just under one month away, the mortgage industry is already on top of what to expect in the coming year with predictions on what the housing sector may or may not bring.

Fannie Mae’s gross mortgage portfolio continued its rapid contraction in October by expanding for the seventh consecutive month in October and the eighth time in 10 months year-to-date in 2015, according to Fannie Mae's October 2015 Monthly Volume Summary.

Construction spending in the U.S. rose to the highest level since December 2007 in October 2015, when the recession had just began.

"Many markets have experienced a low inventory of homes for sale along with strong buyer demand, which is sustaining upward pressure on home prices. These conditions are likely to persist as we enter 2016,” said Dr. Frank Nothaft, chief economist for CoreLogic.

So how adversely does student debt affect consumers' ability to get a mortgage loan? A report from the Federal Reserve Bank of Cleveland released Monday showed that as the percentage of younger consumers with student loan debt rose over the last ten years, those with a mortgage declined.

NAR Chief Economist Lawrence Yun believes pending home sales have been restrained in the fall season as "buyers struggle to overcome a scant number of available homes for sale and prices that are rising too fast in some markets."

Black Knight Financial Services' Data and Analytics division released its September 2015 Home Price Index report, finding that U.S. home prices rose marginally by 0.1 percent in September.

When it comes to predicting the future of the market, the best indicator is in 2015’s housing data. Editor's note: This select print feature appears in the November 2015 edition of MReport magazine, available now.

A new article from Credit.com suggests that when given a choice between different types of debt, fewer consumers take out home mortgages and are much more likely to carry other kinds of debt.

Commentary is an ongoing series on theMReport.com that focuses on opinions, ideas, and insights from experts across mortgage banking. Jeannie Smith, Loan Officer and VP of Sales at Guardian Mortgage discusses opening the credit box for millennials, and how this will help the mortgage industry move more millennials from renters to homeowners.